Ecommerce, also known as electronic commerce or internet
commerce, refers to the buying and selling of goods or services using the
internet, and the transfer of money and data to execute these transactions.
Ecommerce is often used to refer to the sale of physical products online, but
it can also describe any kind of commercial transaction that is facilitated
through the internet.
It is a methodology of modern business, which addresses the
need of business organizations, vendors and customers to reduce cost and
improve the quality of goods and services while increasing the speed of
delivery.
E-Commerce advantages can be classified in three
categories:
- To Organization
- To Consumers
- To Society
Organization
- E-commerce, organizations can expand their market to national and international markets with minimum capital investment.
- It helps organizations to reduce the cost.
- E-commerce improves the brand image of the company.
- E-commerce helps organization to provide better customer services.
- E-commerce reduces the paper work.
Consumers
- E-commerce application provides users with more options and quicker delivery of products.
- It provides more options to compare and select the cheaper and better options.
- It provides 24x7 support.
- Customers can place orders anytime, anywhere from any location.
- A customer can put review comments about a product and can see what others are buying, or see the review comments of other customers before making a final purchase.
- E-Commerce increases the competition among organizations and as a result, organizations provides substantial discounts to customers.
Society
- E-commerce helps in reducing the cost of products, so less affluent people can afford the products.
- Customers need not travel to shop a product, thus less traffic on road and low air pollution.
- E-commerce helps the government to deliver public services such as healthcare, education, social services at a reduced cost and in an improved manner.
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